NCJ Number
102619
Date Published
1985
Length
245 pages
Annotation
Panel discussions, testimony, and prepared statements examine the problem of money laundering and proposed legislation to create a Federal offense of money laundering.
Abstract
Materials focus on the costs of money laundering and its important role in such organized crime activities as narcotics trafficking. Other materials deal with specific provisions of Senate Bills 1335, 572, and 1385. Law enforcement, banking, and constitutional issues relate to these bills' provisions concerning the offense of laundering, proscribed procedures, penalties, financial reporting requirements, the balance between investigative and enforcement needs and privacy rights, and seizure and forfeiture. A number of successful law enforcement efforts in this area also are described. In general, testimony from representatives of the bar, Federal agencies, Congress, and financial institutions is favorable to the proposed legislation. The text of all three bills is provided.